Everything You Need to Know About Creating a Business IT Strategy

Surprisingly few IT teams see alignment between their goals and the overall business direction of the larger organization. This mismatch is a major problem; on average, 10% of a company’s annual budget is wasted due to misalignment. Crafting a highly-tailored IT strategy for your business will reduce your risk of facing this issue.

“Aligning your IT strategy with key business objectives goes beyond technology. You may need to transform organizational practices to address potential future challenges.”  – AJ Watson, VP of Technology and MSP Solutions, Resultant.

Developing an IT strategy isn’t a one-size-fits-all process. No two businesses are alike, so no two technology strategies will be the same. Your strategy will be most successful when you get very clear on how it meets your unique business needs instead of relying on a cut-and-paste example.

Our article will help you get started. We’ll explore how to strategically build an IT strategy that addresses both your long-term and short-term business goals.

What Is an IT Strategy?

An IT strategy is like any other business strategy, providing a clear plan to help a company achieve their goals. However, it focuses specifically on how technology will support those goals. This plan ensures a company has the right tools, systems, and technological resources to enhance operations and drive growth.

Steps to Develop Your IT Business Strategy

1. Assess Operational Needs

Examine your current IT systems to identify inefficiencies that could hinder future growth. Evaluate how well your infrastructure supports current operations and what you anticipate for future demands. A thorough assessment ensures you focus on specifics that directly affect performance, which is where you’ll see the biggest ROI.

2. Define IT Objectives

Establish specific, measurable goals that align with your company’s broader business strategy. These goals will then guide IT investments and efforts toward supporting long-term business priorities. Using them to define your key performance indicators (KPIs) will clarify your initiatives’ success.

Some KPIs that may be useful for this alignment include the following:

3. Gap Analysis

Analyze the disparity between your current IT capabilities and where you need them to be to achieve your goals. This process highlights areas requiring further investment or improvement. Addressing these gaps will ensure your IT systems align with your business objectives.

4. Research and Innovate

Investigate new technologies and innovative solutions that will improve efficiency and give you a competitive advantage. Keeping up with industry trends allows your business to stay adaptable and forward-thinking. Carefully consider which advancements will provide value instead of automatically adopting anything that’s trending but may not be relevant to your organization or industry.

5. Plan Resources

Allocate sufficient budget, personnel, and technology resources to ensure effective strategy implementation. Resource planning clarifies and demonstrates the feasibility of your IT initiatives. Balancing costs with strategic needs also helps you maintain sustainable growth.

6. Document and Communicate

Thoroughly document your IT strategy and share it with key stakeholders to maintain transparency. Clear communication ensures all departments understand the IT goals and how they contribute to the company’s overall direction. Plus, regular updates keep everyone engaged and on track.

7. Monitor and Adjust

Continuously review your IT strategy to ensure it remains aligned with evolving business goals. Regular monitoring helps you identify when adjustments are necessary. Continue to routinely review your strategy even after implementation to ensure it’s still relevant and consequential.

Common Challenges You May Face During the IT Strategy Development Process

1. Resource Constraints

One of the most significant challenges organizations face in IT strategy development is working within limited resources, both in terms of budget and personnel. You’ll likely benefit from evaluating your existing resources to determine whether you can allocate them more effectively. Prioritizing essential projects that focus on high-value areas can maximize your resource allocation.

In some cases, bringing in external consultants or vendors may be necessary to fill knowledge gaps or supplement internal teams. Additionally, external consultants bring fresh perspectives and innovative solutions that you may not have yet considered.

2. Complex Integration

Merging new technologies with existing systems can be challenging. Legacy systems aren’t always compatible with modern software or platforms. In fact, 60% of leaders cite integration issues as the leading reason why their IT strategies fall off track.

If new software is part of your strategic plan, plan technology integration in a phased manner.  A phased approach allows for testing and refinement at each step. Testing can ensure you identify any potential issues and resolve them before they impact the entire system.

3. Change Resistance

Employees may resist new technologies if they’ve grown accustomed to your current software, hardware, and applications. Offer comprehensive training programs that help employees become comfortable with the new technology. Leadership has great positive impact when they make themselves available to answer questions and provide support as employees encounter challenges during the adoption process.

Consider the Kübler-Ross Change Curve as you plan your communication efforts. This curve can be a useful tool to help you meet your resistant employees where they are.

Source: Mastering Business Analysis

Address early resistance by explaining the need for change and how it will benefit both the organization and the individuals involved. If you sense efforts falling short, consider the individual’s reaction as explored on the curve to discern what the best approach to helping them may be.

4. Data Security

IT strategies must incorporate strong security frameworks to protect sensitive information. However, this can be challenging because cyber threats evolve rapidly. The effort is worth it. As CloudSecureTech notes, 48% of consumers would refrain from buying from a business that experienced a major data breach.

Regular security audits are a critical part of maintaining a strong security posture. Audits help identify weak points in the system and allow for timely updates and patches. Instead of focusing solely on one security practice, focus on integrating these audits into your strategy.

5. Achieving Consensus

One of the most challenging aspects of IT strategy development is aligning the interests and priorities of various stakeholders. Different departments often have their own goals, which may conflict with one another.

Building consensus requires open discussions and sometimes even data-driven arguments to align everyone on a shared vision. Engaging stakeholders early in the strategy development process ensures you hear their concerns and address them before finalizing implementation plans.

Expertly Build Your Business IT Strategy With Our Help

Information technology can seem challenging, but when you plan ahead, managing it gets far simpler. The right IT strategy breaks down complex tasks and streamlines your newest projects, even if you’re planning a substantial digital transformation.

If you’d like expert guidance throughout the process, count on Resultant. Our team can help you create a roadmap and avoid any speed bumps along the way. We’ll also perform a deep assessment of your IT infrastructure to ensure we know your needs in detail.

Contact us today to get started.